A Case Study of Growth and Enhancement at Olam Agri through Digital Processes
In the procurement landscape, some firms are still stuck with outdated and manual processes. The digital revolution helps to support the function through automation, end-to-end visibility, cost-saving opportunities, and other technological enhancements. From identification of category spending to strategic sourcing of suppliers for tighter collaboration based on underlying goals, organisations can maximise value and efficiencies. With a myriad of such potential benefits that has yet to be fully realised by many, riding on such a transformation has more returns than risks when they are captured and capitalised on.
This case study explores how Olam Agri, a leading food and agri-business giant, transformed its procurement function through digitalisation. By adopting a user-centric approach in supercharging its digital capabilities, this gives them more advantage in making informed data-driven decisions and strategic moves.
With visualisation of category spends and insights on cost savings, now procurement leaders have access to their performance and the ability to focus on where they should pump more funds in to optimise business value. Vivek Agrawal, Global CPO, Head of Manufacturing & Tech Services, believes that these can help firms act on emerging disruptions such as rising inflations rates in the volatile market swiftly, where large amounts of database on pricing trends could be extracted.
As Generative AI is slowly surfacing as more than just hype, it is critical for firms to leverage on it for future-proof solutions. By progressing steadily towards integrating it into their business, Vivek envisions in unearthing more opportunities to come in the future.